Founder – HedgeFundSpaces.com
New York State Licensed Real Estate Salesperson
280 Park Avenue, a joint investment between publicly traded REITs Vornado Realty Trust and SL Green, recently underwent a full building redevelopment– including a brand new lobby with 25’ ceilings, plaza, interior atrium with reflecting pool, elevator cabs, restrooms, streamlined visitor access, emergency generator and upgraded electric system. The building was previously only 50% leased but is now 90% leased making it $150 million that was well-spent. Home to PJT Partners, Antares Capital, Cohen & Steers, and many more prominent firms, this building has become a world renowned financial services hub and one of the best buildings on Park Avenue. Paul Taubman’s Blackstone spinoff, PJT Partners, took roughly 150,000 square feet about a year and a half ago on the 15, 16, and 17th floors and is now offering two separate units for sublease on the 16th floor of the west building.
These units are available immediately, measuring 10,181 rentable square feet on the northern portion of the floor and 7,763 rentable square feet on the southern portion of the floor. They are brand new, ultra-high-end, plug and play units with a flexible lease term from 3-7 years. The units were constructed with a perimeter office installation, surrounding open areas with workstations (click here to see a floor plan). An extremely unique combination of materials and finishes were used throughout, including glass fronted offices and glass doors; the open areas contain exposed ceilings. Both units will be configured with a double door glass entrances (with great elevator presences), reception areas, and private pantries. Subtenants will have access to a caged area within PJT’s IT room with supplemental cooling. The building has extended HVAC hours from 8:00 AM – 8:00 PM Monday through Friday and 8:00 AM – 1:00 PM on Saturday.
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